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Definitely good advice. It's important to know and act on the recalls. Might avoid a serious accident.

However, the bigger problem is the used car market is broken. Because of asymmetric information -- sellers know a lot and buyers little or nothing -- you have unnaturally low prices and way too many dogs. If you want a used vehicle probably best to buy it from a friend or family member. That doesn't guarantee you'll have a lifetime free of repairs, but it sure increases your chances.
 

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Definitely good advice. It's important to know and act on the recalls. Might avoid a serious accident.

However, the bigger problem is the used car market is broken. Because of asymmetric information -- sellers know a lot and buyers little or nothing -- you have unnaturally low prices and way too many dogs. If you want a used vehicle probably best to buy it from a friend or family member. That doesn't guarantee you'll have a lifetime free of repairs, but it sure increases your chances.
I agree that the used car market is broken and that there is asymmetric access to information. However, I believe that would tend to raise prices above fair market value, ie, ill-informed buyers tend to pay more for a vehicle than it is worth.

KNS
 

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I agree that the used car market is broken and that there is asymmetric access to information. However, I believe that would tend to raise prices above fair market value, ie, ill-informed buyers tend to pay more for a vehicle than it is worth.

KNS
Your last sentence hit home and I agree with the sentiments you both expressed here. I had a friend who bought an old Nissan Sentra last year, at what we all thought was a good price. Unfortunately the seller was primed with information about all the problems the vehicle had, and they never thought it was pertinent to share these with my friend. Sadly enough, a few months after buying the car, the cost of repairs ran much higher than the initial cost of buying the used vehicle. This broken market really does push prices far, far above fair market value and many people do not realize this unless they know someone who has been affected by this.

I agree that it would make sense to buy a used car from someone you actually know and trust because this decreases the chances of you running into any problems and crazy repair costs later on.
 

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I agree that it would make sense to buy a used car from someone you actually know and trust because this decreases the chances of you running into any problems and crazy repair costs later on.
Or buy from someone like Carvana, who delivers it to your driveway along with a 7 day test drive / return option, and have it checked out at a Chevy dealer for recalls, TSBs etc. while you decide if you like it. Then, if you do decide to keep the car, it comes with a 100 day B2B warranty. This is what the future of the used car business looks like.
 

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Or buy from someone like Carvana, who delivers it to your driveway along with a 7 day test drive / return option, and have it checked out at a Chevy dealer for recalls, TSBs etc. while you decide if you like it. Then, if you do decide to keep the car, it comes with a 100 day B2B warranty. This is what the future of the used car business looks like.
I hadn't heard about them. Sounds pretty good.

When I got to the part about the 7 day test, I have to admit I was a little concerned. (Although more than anyone else will give you, it is not really enough time). But "100 day B2B warranty" sounds pretty great.

I think that the other thing people need to do is research the lifespan of the cars, or the lifespan that a car manufacturer is known for offering.

Like I had no idea how bad VWs were until a relative got one. Then I find out that pretty much the whole company has gone downhill since the glory days. (Most of what they sell in the US is made in Mexico and not Germany).

So there is finding out if it is a Lemon, and then finding out if it is built to last. (Knowing what will last is always the hardest to be sure about.)
 
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